Affordable Rent Calculator

Housing is considered affordable when a household spends less than 30 per cent of their income on shelter costs. In Richmond we have what is called an affordability gap – where rent cost more than income can afford.

A two-bed apartment in Richmond averages $1200 per month or $14,400 per year.
For this rent to be "affordable" (30% of income) the household has to gross about
$48,000 per year or $24 per hour (based on 2000 hours of work per year).